India's Tata Motors agrees to buy Italy's Iveco for 3.8 bln euros

Traton SE

30/07/2025 17:08

MILAN, July 30 (Reuters) - India's Tata Motors TAMO.NS has agreed to buy truck and bus maker Iveco IVG.MI through an all cash offer valuing the Italian manufacturer at around 3.8 billion euros ($4.4 billion),  the groups said in a statement on Wednesday.

The purchase will not include Iveco's defence business, which the group, controlled by Italy's Agnelli family, agreed to sell to Italian defence state-back firm Leonardo LDOF.MI in another deal announced on Wednesday.

($1 = 0.8721 euros)

 (Reporting by Giulio Piovaccari
Editing by Keith Weir)

 ((giulio.piovaccari@thomsonreuters.com))